The growth strategy includes opening new stores in existing and new areas and operating those stores successfully. The Company’s average weekly sales and gross profit as a percentage of sales are typically highest in the second and third fiscal quarters, and lowest in the fourth fiscal quarter due to seasonally slower sales during the summer months. Gross profit as a percentage of sales is also lower in the first fiscal quarter due to the product mix of holiday sales. Membership loyalty is essential to their business membership. The extent to which they achieve growth in their membership base, increase the penetration of the executive membership, and sustain high renewal rates materially influences their profitability.
Whole Food Market reports its results of operations on a 52 or 53 week fiscal year ending on the last Sunday in September. Fiscal years 2014 and 2013 were 52 week years and fiscal year 2012 was 53 week year, with an additional week in the four fiscal year. The Company’s average weekly sales and gross profit as a percentage of sales are typically highest in the second and third fiscal quarters, and lowest in the fourth fiscal quarter due to seasonally slower sales during the summer months. Goss profit as a percentage of sales are also lower in the first fiscal quarter due to the product mix of holiday